West End apartment buildings hit the market

A trio of West End apartment buildings are hitting the market.(Photo: Getty Images / iStockphoto)

The owner of the Blackstone, Lee and Fairmont apartments has put the West End Avenue-area buildings up for sale.

A year ago, Atlanta-based commercial loan servicer Ocwen Financial Corp. took over the loan on the properties in a $14.4 million transaction.

The properties are the Lee Apartments, 2018 Hayes St.; the Blackstone, 3300 West End Ave.; and the Fairmont, 107 Acklen Park Dr.

"It's a phenomenal location," said Vince Lefler, a senior vice president in multifamily investment sales with JLL in Nashville, citing proximity of the apartments to Centennial Park and Vanderbilt University. "They will get lots of interest."

Average rent at the Blackstone is $1,300. Rent at the Fairmont starts at $1,100, while rent at Lee Apartments range from about $1,000 to $1,800.

Steve Massey and Russ Oldham of the capital markets group of CBRE in Nashville are handling the listing for Ocwen.

Reach Getahn Ward at 615-726-5968 and on Twitter @Getahn.

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